TT130: Tax Return Filing & Payment Deadline

January 23, 2009

The deadline for filing your Income Tax Return (ITR) and paying any tax due is 31 January – only a few days away!

For the 2007/08 tax year the deadline for filing a paper ITR was shortened to 31 October 2008. Anyone wishing to make a filing now must file it electronically. For those people for whom Barnes Roffe acts this is not a problem as we file all ITRs electronically as soon as we receive the signed copy from our client.

However, as payment deadlines approach we are often asked for details of how the tax due can be paid on time.

Payment Methods:

By cheque please ensure that you allow plenty of time for your cheque to arrive and be processed by HM Revenue & Customs (HMRC) by the due date. You can take the cheque to the bank and pay it in over the counter, or post it. If this is not convenient, you might wish to use one of the following methods of payment.

By bank transfer many banks online e-banking systems already have the details of the HMRC bank account pre-defined as a payee. However, you should double-check the bank details offered by the e-banking system to ensure that they correspond to the details on the paying-in slip provided by HMRC. You should ask your bank for the recommended number of days you need to allow in order to be certain your payment reaches HMRC on time this is usually four working days.

By debit or credit card visit  Please be aware that HMRC will charge an additional 1.25% should you wish to pay by credit card (this is not charged for a debit card transaction).

By telephone call 0845 305 1000 to pay using a debit or credit card without using the Internet.

Barnes Roffe Topical Tips:

  • Ensure you plan ahead – remember 31 January 2009 is on a Saturday this year!
  • If you think your tax bill will be lower next year (e.g. you anticipate a lower income) then you might be able to reduce your payments on account which form part of the 31 January payment.
  • If in doubt then please speak to your Barnes Roffe LLP partner or tax manager for guidance.
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